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The Journal of Real Estate Finance and Economics

The Journal of Real Estate Finance and Economics OnlineFirst articles


What Broker Charges Reveal About Subprime Mortgage Credit Risk

Prior to the subprime crisis, mortgage brokers charged higher fees for subprime loans that turned out to be riskier ex post, even when conditioning on other risk characteristics. Borrowers who paid higher conditional fees were inherently more …


Price Dynamics in Public and Private Commercial Real Estate Markets

In this paper, we examine price dynamics, cycles and lead-lag relationships between private and public commercial real estate markets. We utilize wavelet technology to capture both the frequency and the time variations of a time series. We find …


The Beta Anomaly in the REIT Market

This research examined whether the beta anomaly exists in the REIT market. By analysing a low-minus-high beta strategy and a betting-against-beta strategy in the REIT market, we find that high-beta REITs earn significantly lower risk-adjusted …


Loss Given Default, Loan Seasoning and Financial Fragility: Evidence from Commercial Real Estate Loans at Failed Banks

Commercial real estate (CRE) loan losses are a recurring contributor to bank failures and financial instability, yet they are not well understood. We examine a unique and proprietary data set of CRE loan defaults at banks that failed and were …


The Dynamics of Liquidity in Commercial Property Markets: Revisiting Supply and Demand Indexes in Real Estate

A common definition of liquidity in real estate investment is the ability to sell property assets quickly at full value, as reflected by transaction volume. The present paper makes methodological and conceptual contributions in the study and …

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About this journal

Recent times have seen an expansion of theoretical and empirical research on real estate using the paradigms and methodologies of finance and economics. Examples of this research include the working and structure of markets, the role of various institutional arrangements, the attention given mortgages and asset securitization, risk management and valuation, and public policy and regulation. The Journal of Real Estate Finance and Economics provides a forum for the publication of this research. Coverage includes urban economics, housing, regional science and public policy.

Officially cited as:

J Real Estate Finance Econ

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